Banque Transatlantique SA Lowers Holdings in Alphabet Inc. $GOOGL

Key Points

• Banque Transatlantique SA sold 211,546 shares of Alphabet Inc., reducing its stake by 31.2%, leaving it with 466,936 shares valued at approximately $66.7 million.
• Alphabet's stock is showing bullish trends, with several analysts raising their price targets and maintaining "buy" ratings, reflecting strong market confidence.
• The company recently announced a quarterly dividend of $0.21 per share, offering an annualized yield of 0.4% amid solid financial performance indicated by a quarterly EPS of $2.31.

Banque Transatlantique SA lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 31.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 466,936 shares of the information services provider's stock after selling 211,546 shares during the period. Alphabet makes up approximately 1.2% of Banque Transatlantique SA's holdings, making the stock its 15th largest holding. Banque Transatlantique SA's holdings in Alphabet were worth $66,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Invesco Ltd. raised its stake in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. Finally, Amundi raised its position in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the transaction, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $49,208,380 over the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.2%

Alphabet stock traded up $2.70 during midday trading on Friday, reaching $235.00. The company's stock had a trading volume of 46,562,292 shares, compared to its average volume of 33,713,716. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.84 trillion, a P/E ratio of 25.03, a PEG ratio of 1.56 and a beta of 1.01. The stock's 50-day simple moving average is $195.79 and its 200-day simple moving average is $175.48. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $235.76.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Rosenblatt Securities boosted their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday. Guggenheim increased their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Cantor Fitzgerald upped their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $222.33.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.